STAAR Surgical (NASDAQ:STAA) Lowered to Market Perform Rating by William Blair

William Blair downgraded shares of STAAR Surgical (NASDAQ:STAA) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports.

Several other equities research analysts have also commented on STAA. Canaccord Genuity Group reduced their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Stephens upgraded STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, STAAR Surgical currently has an average rating of “Hold” and an average price target of $28.43.

STAAR Surgical Trading Down 24.7 %

Shares of STAAR Surgical stock opened at $16.48 on Wednesday. The stock’s fifty day moving average price is $23.75 and its 200-day moving average price is $29.24. The firm has a market cap of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $52.68.

Insiders Place Their Bets

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 8,221 shares of the stock in a transaction on Thursday, January 16th. The stock was acquired at an average price of $21.50 per share, with a total value of $176,751.50. Following the completion of the acquisition, the insider now owns 10,878,007 shares in the company, valued at $233,877,150.50. The trade was a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have bought 105,876 shares of company stock valued at $2,487,168. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of STAA. Arcadia Investment Management Corp MI purchased a new stake in STAAR Surgical during the 3rd quarter worth approximately $37,000. Quarry LP purchased a new position in STAAR Surgical in the 3rd quarter worth $50,000. Quest Partners LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth about $128,000. Van ECK Associates Corp grew its stake in STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 393 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of STAAR Surgical by 78.3% in the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

About STAAR Surgical

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.